In March 2022, approximately 3,200 NFT sales occurred per day on average. This number is down over 80% from January 2022‘s volumes of 26,000+ daily transactions. However, daily figures remain extremely volatile – single day records have seen over 795,000 primary market sales, with 100,000+ secondary market sales.
As your personal cybersecurity advisor, I want to provide full context so you can make informed decisions in this turbulent market. In this definitive guide, we‘ll unpack the latest data on NFT sales trends and projections. You‘ll also get my expert advice on security risks to watch for, environmental impacts to consider, guidance for creators on profitability, and more.
Buckling up? Let‘s dive in!
NFT Sales Per Day: Current Figures and Forecasts
As mentioned above, approximately 3,200 NFTs are exchanging hands daily in transactions as of March 2022 across various blockchains like Ethereum, Ronin, and Flow according to NonFungible.com.
This number fluctuates dramatically day-to-day however. Back in August 2021, over 795,000 NFT sales occurred in primary markets over a single 24 hour period according to data site DappRadar:
| Date | Primary Sales | Secondary Sales |
|---|---|---|
| August 28, 2021 | 795,092 | 3,662 |
And even more recently in January 2022, over 38,000 secondary market NFT sales happened in one day.
For context, here is how daily NFT sales volumes have trended over the past year across both primary and secondary markets (Note – table best viewed on desktop):
| Date | Primary Sales | Secondary Sales |
|---|---|---|
| Peak | 795,092 | 103,765 |
| August 2021 | 795,092 | 3,662 |
| September 2021 | 188,704 | 103,765 |
| October 2021 | 142,162 | 44,114 |
| November 2021 | 75,245 | 20,606 |
| December 2021 | 71,885 | 15,947 |
| January 2022 | 17,962 | 38,403 |
| February 2022 | 7,434 | 15,682 |
| March 2022 | 6,498 | 7,886 |
Data Source: NonFungible.com, DappRadar. Peak figures in bold.
Two driving factors explain much of this volatility in NFT transaction volumes:
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Broader Crypto Market Conditions: NFT demand seems strongly correlated with the greater crypto/blockchain ecosystem. When flagship coins like Bitcoin and Ethereum decline, interest and investment tends to retreat across more speculative assets like NFTs as well.
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Viral Trends and Hype Cycles: Explosive short-term surges can occur around high-profile NFT launches, celebrity/influencer promotions, or meme-driven frenzies. But these bubbles often prove unsustainable long-term.
With these core dynamics in mind, most experts expect continued turbulence ahead for the NFT market in 2024. If inflation stabilizes or crypto prices rally, a resurgence could happen. But investor sentiment remains weak in the short term.
Personally, I suggest being extremely cautious around any hype-driven spikes in demand. Temper expectations, focus on quality over quantity, and make safety the priority if you do buy, sell or create any NFTs.
Now, onto the data around NFT sale price averages and distribution…
NFT Prices: Distribution Analysis and Averages
Like any complex market, averages only tell part of the story for what NFTs sell for daily. Sale price distribution covers a huge spectrum from under $10 to hundreds of thousands in exceptional cases.
But the majority of activity happens on the lower end according to NonFungible‘s data, with a roughly even 4-tier split as follows:
- Under $200: ~30% of sales
- $200 – $1000: ~35% of sales
- $1000 – $10,000: ~25% of sales
- Over $10,000: ~10% of sales
So around 65% of all NFTs sell for under $1,000. Yet headlines about 5 and 6-figure sales dominate the narrative.
This highly-skewed distribution explains why averages sit around $300 or less for most NFTs and creators. Even with some exceptional collections like Bored Ape Yacht Club and CryptoPunks selling pieces for $200,000+, such ultra-high sales remain very much the outlier.
In fact, only an estimated 10% of NFTs sell above $10,000. So while possibilities to generate life-changing money exist, building realistic expectations is crucial.
Guidance for Artists: How Much Can You Actually Earn From NFTs?
Speaking of realistic expectations, as your advisor I have to be upfront: most artists generate little revenue from NFTs after accounting for expenses.
Here is a typical cost & profitability breakdown for creators minting and selling NFT art across popular marketplaces like OpenSea:
- NFT Production Costs: $70 – $150+
- Marketplace Fees: ~2.5%
- "Gas" Fees Per Transfer: $20 – $100+
- Typical Sale Price: <$300
So out of a ~$300 sale, after all expenses and intermediary cuts, many artists keep less than $125 – or 40% of the total transaction value.
Creating hype and long-term audiences to generate volume sales is essential. Yet 9 out of 10 new projects still fail according to some estimates.
My guidance? Treat NFTs as an experimental revenue channel, not a get-rich avenue. Weigh risks, mind privacy, watch for scams. And focus on protecting yourself first financially and legally before dreaming of those crypto-lambos!
Environmental Concerns Around NFT Energy Use
Beyond financial advice, I‘d be remiss not to mention the staggering environmental impact associated with NFTs.
See, every transaction has to be validated across a global network of power-hungry computers. Total estimated electrical consumption from NFT trading already results in over 100,000 tons of CO2 emissions monthly:
Data Source: The Diplomat
Addressing sustainability is crucial for any innovation to succeed long-term. So what options exist?
The most promising solution comes from transitioning NFT infrastructure to less energy-intensive Proof of Stake consensus models. Early estimates show this could cut electricity usage by up to 99.95% per transaction.
I expect access to more sustainable NFT marketplaces will emerge within 1-2 years. Until then, exercise caution – both for the planet‘s sake and your own reputation!
Additional NFT Resources
Given this market sits at the bleeding edge intersection of art, technology and finance – there‘s lots more to cover about NFT sale volumes, use cases, security considerations and so on.
Here are a few of my favorite advanced resources if you want to go deeper:
Research Reports
Risk & Privacy Analysis
Environmental Impact Assessment
I‘m always happy to chat more about nascent spaces like the NFT & Web3 ecosystem. Feel free to reach out with any other questions!
Yours in online safety & security,
[Your Name]